Quarterly report [Sections 13 or 15(d)]

Segment Information

v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Information [Abstract]  
SEGMENT INFORMATION

NOTE 10 – SEGMENT INFORMATION

 

The Company views its operations and manages its business as one operating and reportable segment, which is the business of research and development of innovative treatments for RASopathies, MAPK pathway-driven tumors and other diseases, including central nervous system (CNS) disorders. The determination of a single operating segment is consistent with the consolidated financial information regularly provided to the CODM. Consistent with the operational structure, the Chief Executive Officer, as the CODM, reviews and evaluates net loss for purposes of assessing performance, making operating decisions, allocating resources available and how to best deploy these resources across functions, therapeutic areas and research and development projects, and planning and forecasting for future periods on a consolidated basis. Operating expenses are used to monitor budget versus actual results in assessing performance of the segment. Total assets are monitored by the CODM on a consolidated basis which is reported on the face of the consolidated balance sheets. All the Company’s long-lived assets are held in the United States.

 

The following table is representative of the significant expense categories regularly provided to the CODM when managing the Company’s single reporting segment. A reconciliation to the consolidated net loss for the six months ended June 30, 2026, and 2025 is included at the bottom of the table below.

 

    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
Significant segment expenses   2026     2025     2026     2025  
General and administrative (1)     1,584,064       1,460,723       3,224,150       3,157,148  
Pre-clinical research (1)     57,436       103,343       431,797       165,336  
Non-clinical research (1)     401,266       -       401,266          
CMC (1)     955,875       99,413       1,614,273       324,010  
Clinical development (1)     2,227,156       1,928,275       4,134,232       3,363,079  
Depreciation and amortization     157,541       161,746       315,082       323,454  
Share based compensation expense     329,944       57,645       469,126       156,203  
Other segment items (2)     -       (246 )     -       1,848  
Total operating and segment expenses     5,713,282       3,810,899       10,589,926       7,491,078  
                                 
Reconciliation of net loss                                
Change in fair value of warrant liabilities     20,624       (8,436 )     1,562,756       68,431  
Realized foreign currency translation loss from dissolution of subsidiaries     -       -       -       (7,171 )
Foreign currency gain/(loss)     (29,792 )     29,290       (39,283 )     29,290  
Other income     38,182       19,464       62,365       19,464  
Interest and dividends, net     410,416       54,424       860,754       101,669  
Segment and consolidated net loss     5,273,852       3,716,157       8,143,334       7,279,395  

 

(1) includes personnel costs and excludes share-based compensation expense and impairment expense
   
(2) includes litigation settlements, loss from sale of assets, and loss on asset write offs